We've reached the support zone. Now the battle begins.
Will the buyers have more strength, or is the breakdown certain?
If the buyers win, the target is the upper band of the wedge.
If sellers win, the reference regarding wedge breakdowns suggests that the next move will be fast and strong towards the initial zone of the wedge.
Will the buyers have more strength, or is the breakdown certain?
If the buyers win, the target is the upper band of the wedge.
If sellers win, the reference regarding wedge breakdowns suggests that the next move will be fast and strong towards the initial zone of the wedge.
For Martin Pring, a close below the support zone could be a confirmation of a breakdown.
Using that definition, the KKR ascending wedge was broken. This suggests a fast movement to the downside.
Although, a pullback is possible before the downtrend speeds up.